Coindesk

Solana's SOL token is poised for a potential price swing of almost 6% after some large investors, or whales, dumped their holdings ahead of the U.S. non-farm payroll (NFP) report due later Friday.This estimate comes from Volmex's one-day implied volatility index (IV) for SOL. At press time, the index showed a one-day reading annualized at 109.70%, indicating an expected 24-hour price volatility of 5.74%. (The daily figure is derived by dividing the annualized volatility by the square root of 365, the number of trading days in a year.)A movement that size represents moderate volatility, especially considering that the cryptocurrency has experienced several days of 6% or higher volatility since early March, according to data from CoinDesk.In other words, the market...

An oversold market and reactions to U.S. tariffs may be a thing of the past with traders now eying new economic data and rate cuts in the coming months — with expectations of a bitcoin bounce in the near term.Crypto markets saw high volatility on Wednesday and Thursday in the run-up to the tariff announcement, where President Donald Trump levied a minimum 10% fee on all imports to the country.Major tokens bitcoin (BTC), ether (ETH), Solana’s SOL, XRP (XRP), and others, zoomed ahead of the speech and slumped as global markets fell, reversing all gains from the start of the week.Markets have since shown an uptick in prices on Friday morning, with BTC steady above $83,100, ETH retaking $1,800 and...

For years, the crypto market has thrived on speculation, where excitement, hype and fleeting trends attract value instead of fundamentals. Investors have continually poured money into tokens fueled by viral moments, chasing rapid gains. Time and again, a select few of these investments soar to incredible heights, only to come crashing down. With over 33 million tokens in circulation, the competition to attract attention gets harder and harder and investor attention is ever more fleeting. But DePIN can change this. With compelling businesses attracting real customers and revenue built on well designed token economics, DePIN can set a new standard of fundamentals in crypto.As our DePIN Token Economics Report outlines, Decentralized Physical Infrastructure Networks (DePIN) offer a number of compelling...

Market Recovery Amid Institutional ConfidenceThe cryptocurrency market remains in turbulent territory as Toncoin (TON) demonstrates both significant volatility and remarkable resilience. After forming a head-and-shoulders pattern with strong resistance at $4.15, TON has recovered from its recent lows. It is now trading at $4.13 with a 12.5% weekly gain. This recovery comes amid news that leading venture capital firms, including Sequoia, Ribbit Capital, and Benchmark, collectively hold over $400 million in TON, signaling institutional confidence in the blockchain's future.TON Technical Analysis HighlightsPrice action formed a head-and-shoulders pattern with resistance at $4.15 and support at $3.60. The support level at $3.60 was breached during the April 3rd selloff. Volume analysis shows distribution phases coinciding with price peaks, suggesting institutional profit-taking.Fibonacci retracement...

Illinois will soon drop its staking lawsuit against Coinbase, joining three other U.S. states that have recently backed down from litigation against the exchange.A spokesperson for Illinois Secretary of State Alexi Giannoulias told CoinDesk on Thursday that the office “intends to drop the Coinbase lawsuit.” The spokesperson did not reply when asked when the case may be dropped.Illinois was one of 10 U.S. states that brought charges against Coinbase in 2023 for allegedly violating state securities laws through its staking program. The U.S. Securities and Exchange Commission (SEC) also charged Coinbase with violating federal securities laws for its staking product, but dropped that suit in February. Since the SEC’s retreat, state securities regulators in Kentucky, Vermont and South Carolina have...